📈 Cup Pattern Breakout on Munjal Auto!

🔎 Technical View Chart Pattern: Stock has formed a classic Cup pattern on the weekly chart, with neckline resistance near ₹110. Breakout Attempt: Current price at ₹106.8 is just below resistance. A sustained close above ₹110–112 will confirm breakout. Volume Surge: Noticeable volume spike during the recent up-move adds strength to the breakout possibility. Targets: First target: ₹130 Extended target: ₹150–155 Support: Strong support at ₹90–92 zone (cup base & previous consolidation). 🔎 Elliott Wave & Indicators Current rise looks like Wave 3 initiation after long base formation. MACD likely on bullish crossover, showing building momentum. AVWAP from prior swing lows (₹70–75) acts as strong demand zone. 🔎 Fundamental Snapshot Part of Hero Group, Munjal Auto benefits from growth in 2-wheeler and 4-wheeler segment. Healthy balance sheet and improving demand outlook for auto ancillaries. Strong turnaround story with potential re-rating as auto sector demand revives. 🎯 Strategy & Levels Entry: On sustained close above ₹110. Targets: ₹130 → ₹150–155. Stop Loss: Below ₹90 (weekly close). 📌 Conclusion: Munjal Auto is at the brink of a cup pattern breakout with rising volume and sectoral support. A breakout above ₹110 can trigger strong upside momentum.